Social Networking as a Means to Make Money Online

The growth of social networking sites is further fueled by their use to expand businesses. Indeed, a lot of business owners have seen the possibility of expanding their products and services, increasing customer base, and generating higher profits through top social networking sites.

The Benefits of Social Networking

Though there are a number of disadvantages of social networking sites as tools for your business, most definitely the benefits outweigh them:

1. They are normally for free. There are countless social networking sites that do not require any membership fee -- including two of the biggest ones, which are Myspace and Facebook. Hence, you can tremendously minimize your advertising expenses. You can always upgrade your account, though, if you want to make use of more comprehensive functions. However, usually, the free features are more than enough to get you started.

2. There are a lot of tools that you can use for your promotion. The top social networking sites do not only allow you to create engaging profiles, but will also help you sell your products and services in message boards, groups, RSS feeds, and blogs.

3. They can provide linkbacks for your website. Social networking sites can also allow you to add a link of your website right at your own profile page. Hence, you are providing an inbound link to your webpage, which will help increase your rankings in search engines. What is more, you can watch your traffic soar up, considering that top social networking sites have thousands or even millions of members.

4. You can easily connect to your customers. Social networking websites are about connections, and when you are in business, you know that relationships play a vital role. You can develop a profile page that your existing customers can add. This way, they do not need to visit your website constantly to check on updates. Moreover, you can bring the professional relationship to a more personal level since you can already send them personal messages, leave comments on their profile, or even participate in blog and group discussions.

5. You can make use of different forms of media that are convenient to share. Social networking sites can provide you the opportunity to embed that business video that you have come up with. If you are a podcaster, you can add a link, which other users can share to their friends. Viral marketing can be at its best form when you are in social networking websites.

6. They help you choose highly targeted audience. Top social networking sites, for example, have members all over the world. They are also of different gender, political and religious affiliation, or academic background. Simply put, it is very easy for you to look for targeted customers. Since they fit the bill, there is a huge possibility that they will be very much interested in what you are going to offer to them, which will then mean bigger customer base and higher profit for your business.

Nevertheless, though these benefits will surely help propel your business, you still need to pair this with other marketing strategies, to make sure that you can exhaust your advertising efforts.